BONK Slides 8% as Sellers Regain Control, Resistance Holds at $0.000038
BONK reversed sharply on Thursday, tumbling 8.4% to $0.0000345 after facing strong resistance near $0.000038. The move erased earlier gains and signaled a shift in short-term momentum, as high-volume selling overwhelmed initial bullish sentiment.
The Solana-based meme coin initially spiked to an intraday high of $0.0000354 at 10:50 UTC before retreating. Resistance near $0.000038 triggered a broad pullback, with trading volume soaring to 2.16 trillion tokens — well above the 1.46 trillion daily average — confirming aggressive sell-side activity.
Attempts to reclaim upside momentum failed in the final hour of the session, with a brief push above $0.0000350 meeting renewed selling pressure. A particularly heavy wave of trades occurred between 11:12 and 11:18 UTC, when more than 20 billion tokens were exchanged per minute.
With BONK now trading below short-term resistance at $0.0000350 and showing signs of trend exhaustion, analysts are eyeing potential support retests near $0.0000335–$0.0000340 unless fresh demand emerges.
Key Technical Metrics:
- Daily Loss: -8.4% from $0.0000375 to $0.0000345
- Range: $0.0000338 (low) – $0.000038 (high), 11% total swing
- Confirmed Resistance: $0.000038 rejection at 14:00 UTC
- Volume Spike: 2.16 trillion BONK vs 1.46 trillion 24h average
- Support Zone: $0.0000338–$0.0000341
- Peak Activity: 20B+ tokens/minute traded during 11:12–11:18 UTC
- Current Outlook: Bearish bias intact below $0.0000350; potential downside toward $0.0000335
